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Warehouse REIT growing its portfolio

Warehouse REIT growing its portfolio – Warehouse REIT (WHR) is busy expanding its portfolio; after raising £120m in April, the company has deployed a small chunk of the proceeds to acquire a warehouse property in Chorley, Lancashire for £3.60m and an industrial warehouse premises in Doncaster, South Yorkshire for £1.68m (extending its current holding at the same estate).

The deals fit into WHR’s strategy of acquiring well specified warehouses close to cities, major routes or transport hubs.

What are they buying

The Lancashire asset is the larger of the two acquisitions at 47,500 square feet. WHR’s describes it as a modern purpose-built warehouse and it is located one mile from the M6 and 27 miles north west of Manchester.

WHR’s says that the property, is let to an established manufacturing business as their distribution centre, generating a net passing rent of just over £260,000 per annum and has 4.5 years remaining on the lease.

In its second acquisition, WHR has purchased two units from the Delta Court estate within the Sky Business Park in Doncaster. The deal increases the company’s holding on the estate, where it currently owns 36,000 square feet across 6 units.

WHR: Warehouse REIT growing its portfolio

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